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The yuan's 2017 rally ended last week after the People's Bank of China scrapped a reserve requirement on a yuan derivative that had been aimed at curbing depreciation. Analysts expect Beijing to keep the currency stable until the 19th Party Congress starting October 18.
Expected weakness in the yuan after the Congress would raise the cost of dollar-priced imports for China, which could dampen its demand for US feed commodities.
scmp.comKaren YeungSep 21, 2017After 398 past bullish macro events, Chinese Yuan (CNY per USD) moved a median +0.0% over 5 sessions (56% higher; middle half -0.3% to +0.5%), and +0.0% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
